Commercial Property purchases – is tax relief on your radar?

E³ Consulting hosted a Property Taxation webinar on Wednesday 27 April 2022.

Tax reliefs, especially capital allowances, fall off the radar of many property professionals and investors when it comes to purchases of commercial property and real estate; sometimes they aren’t even on the radar at all.

But there are a great deal of opportunities to be seized by taking the right action at the right time whether it is for you or a client.

These benefits may include significant tax savings and improved cash flow, enhanced customer service and client satisfaction or a hitherto overlooked part of due diligence or risk management.

No-one wants to be asked after the event why they missed something which should have been on their radar.

Please follow this link to our YouTube channel for the recording of the webinar.

What was covered?

E³ Consulting Managing Director, Alun Oliver, and Property Tax Surveyor, Todd Arnison, discussed the questions which need to be asked when it comes to commercial property and real estate purchases.

The webinar covered the main areas of capital allowances claims upon sale and purchase of commercial property including section 198 elections and the ‘New Fixtures Rules’.  It also covered the opportunities and risk areas for vendors and purchasers and briefly touched on other tax opportunities for post purchase development including Capital Allowances on refurbishment and fit outs, Land Remediation Tax Relief (LRTR) and Community Infrastructure Levy (CIL).

The session was illustrated by real-life case studies to demonstrate best practice and the benefits of making sure your radar is switched on to property taxation.

Its aim was to give a better appreciation of all the issues around this complex area of property tax and explain why it is vital to ask the right questions rigorously to pick up all of the points and intricacies involved in a purchase at the earliest possible opportunity.

Crucially, there are statutory time limits imposed on agreeing the correct capital allowances at sale and purchase, therefore it is important to take action at the right time during the process to obtain the available reliefs, protect your position and/or optimise the available savings.

All professionals connected with the property purchase process will find persuasive insights into why they should understand the opportunities this area of tax relief offers – both for themselves and for their clients.  This may be for due diligence, financial or risk management reasons ensuring that they are acting in their own and their clients’ best interests, whilst adding value.

Who benefitted from attending? 

Property investors, commercial and corporate property professionals, owner-occupiers, business owners, developers, chartered surveyors, managing/finance/tax directors, funders, commercial property agents and professionals working alongside clients such as solicitors, accountants, tax advisors, planners and architects.